How to Protect Yourself from Identity Theft?

Identity theft happens is when someone illegally obtains your identifying information, such as name, address, date of birth, social security number or mother’s maiden name. Once identity thieves have your personal information, they can drain your bank account, open new credit card accounts or run up charges on your credit cards, open new utility accounts, purchase automobiles, or get medical treatment on your health insurance. An identity thief can file a tax refund in your name and get your refund. Identity thieves can use your Social Security number (SSN) to get other personal information about you. They can use your SSN and your good credit to apply for more credit in your name. Then, when they use your credit cards and don’t pay the bills, it will damage your credit. You may not find out that someone is using your SSN until you’re turned down for credit, or you begin to get calls from unknown creditors demanding payment for items you never bought. Here are a few signs to look out for if you suspect that you’ve been a victim of identity theft. Unfamiliar charges appear on your credit card statements. You should always be aware of the charges that appear on your statements and take the time to look through them closely. If you notice a charge that wasn’t made by you, it’s possible that your identity may have been stolen. Another sign is when new inquiries show up on your credit report. If you were not the one who authorized a credit inquiry, it’s likely that your identity was stolen and is being used to take out credit under your name. Another sign is when you see different addresses on your credit report. While it’s normal that your credit report includes current and previous addresses, including work addresses and P.O. boxes, if one of the addresses does not match any you have been associated with, there’s a chance your identity has been stolen. Some of the ways in which identity thieves steal your information is when you provide your credit card information on an unsecured online site. Identity thieves may rummage through your trash, trash of businesses, and public trash dumps looking for personal data. They may buy personal information from “inside” sources. For example, a identity thief may pay a store employee for information about you that appears on an application for goods, services, or credit. Protect yourself from identity theft with AlmalCredit services which monitor your accounts for possible suspicious activity of new credit inquiries, new loans and delinquent accounts reported in your name.